Petrolimex enjoys huge benefits through treasury stock sale

According to the group, the shares were purchased at an average price of VND50,553 (US$2.22) each from May 4-23 through transactions at the Ho Chi Minh Stock Exchange (HoSE)

Currently, Petrolimex owns more than 135 million treasury stocks.

The state-owned group has charter capital of approximately VND13 trillion (US$571 million).

Its market value is estimated at VND73.3 trillion (US$3.2 billion), ranking fifth among the biggest enterprises on the Vietnamese stock market.

Petrolimex aims for year-on-year profit growth of 10 percent this year.

Last year, the group generated approximately VND123.2 trillion (US$5.4 trillion) in revenue and VND5.2 trillion (US$229 million) in after-tax profit, up 50% from 2015.